Veterans can get Veterans’ Group Life Insurance or a private policy. Term life is the best life insurance for most veterans if they qualify.
Veterans’ Group Life Insurance is best for veterans who may not qualify for private life insurance. Term life is the best life insurance for veterans who need more coverage or lower rates.
Rebecca Shoenthal is a licensed life, disability, and health insurance expert and a former editor at Policygenius. Her insights about life insurance and finance have appeared in The Wall Street Journal, Fox Business, The Balance, HerMoney, SBLI, and John Hancock.
Amanda Shih is a licensed life, disability, and health insurance expert and a former editor at Policygenius, where she covered life insurance and disability insurance. Her expertise has appeared in Slate, Lifehacker, Little Spoon, and J.D. Power.
Many active-duty military personnel already have a life insurance policy, and when they leave the armed forces they have a few different options for continuing coverage. Most commonly, veterans can convert their Servicemembers’ Group Life Insurance (SGLI) policy into a Veterans’ Group Life Insurance (VGLI) policy; buy life insurance from a private insurer; or convert their SGLI or VGLI policy into private life insurance.
VGLI offers guaranteed approval up to 240 days after you leave active duty, but it comes with limitations. For example, the maximum VGLI death benefit is $400,000. Private term life insurance offers benefits up to several million dollars and competitive pricing, but isn’t always available or affordable for veterans with complex medical conditions. A Policygenius agent can help you choose the best life insurance for your circumstances.
/GettyImages-597273763-0c54246fb66a413fa8f7c01a719b9423.jpg)
/GettyImages-672155839-f87844656985438aa474f21717575e4c.jpg)
Smart Money crypto players piling Into Solana And Chainlink: Are they also accumulating Elluminex? Solana recently surged by 12% due to meme coin launches and may benefit from potential ETF approvals. Chainlink shows strong institutional interest, while Elluminex aims to revolutionize DeFi on the Toncoin blockchain, presenting a lucrative investment opportunity
